Day two at Davos was Politicians Day. “Like Ladies Day at Ascot but with fewer hats,” explained one observer as Prime Minister David Cameron rolled into the World Economic Forum on the arm of Chancellor George Osborne.

Cameron was, of course, the talk of the town after making his referendum-setting speech back in London the previous day – but not in a good way, alas.

The most barbed comments came from his globetrotting predecessor Tony Blair, in Davos to speak at an entrepreneurs breakfast, who called Cameron’s career-staking EU gamble a “total disaster”.

Just in case he hadn’t made himself clear, Diary also hears that Blair, cornered in a hotel lift the previous evening, wondered aloud: “Why do [the referendum announcement] now, other than for political reasons?”

On the subject of Europe, here's one joke doing the rounds at Davos. “The UK will leave the EU; Scotland and Northern Ireland will leave the UK and join the EU.” But is it really in jest?

Changing Times

Lionel Barber may have been late to the Twitter party, but the Financial Times editor has been embracing his new-found social media skills with gusto at Davos, breaking news on the merits of “sturdy Swiss trains”.

Barber’s Damascene conversion has coincided with the disclosure of the FT’s “digital-first” strategy, with Barber decreeing earlier this week the "need to ensure that we are serving a digital platform first, and a newspaper second".

Of course, Barber also needs to ensure that new boss John Fallon – reportedly less committed to keeping the FT in the Pearson stable than his predecessor Dame Marjorie Scardino – is convinced that the Pink 'Un has a future in the 21st-century. Keep those tweets coming …

Remaining on the FT, could Davos be the moment when Barber seals the deal to sell the newspaper to Bloomberg, which is reported to be the most likely buyer? After all, the economic forum has form in progressing M&A talks – the merger of Reuters Group with The Thomson Corporation was debated over gluhwein at a previous meeting. Given that Bloomberg's chairman Peter T Grauer and president Daniel L Doctoroff have trekked all the way to Switzerland to join Barber and the FT’s CEO John Ridding, surely it seems churlish not to at least mention the subject?

Hairy moment for banking

Some swear by skirt lengths; others by sheep entrails.

But Diary prefers to predict the outlook for the global economy by the growth of Lloyd Blankfein’s facial hair – and now the Goldman chief has been spotted at Davos with a beard, chances are the banking sector is heading for a pretty serious “bear” moment.

Then again, the Sir Richard Branson-style disguise may have been something for Blankfein to hide behind as lobby group the Public Eye Awards hijacked Davos to name and shame Goldman for derivatives deals that “pawned the future of the Greek people”. The case of the banker’s missing razor continues...

Barclays' secret is out at last. The identity of the special guest at the bank's high-powered Davos dinner, who stamped his petite foot to ban all media from this year’s feast. It turns out this uber-VIP was one-time French president Nicolas Sarkozy – still a little sore over his election defeat, it seems.

KPMG gives Sound Advice on austerity

Cocktail hour at the Belvedere hotel and perennial Davos party host KPMG decided to lay on some Sound Advice for its clients.

That’s the name of the band the auditor booked to play at its Wednesday night soirée – in a departure from hiring local minstrels at “great expense”, KPMG this year roped in a quartet made up of its own staff, who presumably rattled through The Best of Michael Buble for free.

Commendable – needs must, and all that. But where will this all end? KPMG global chairman Michael Andrew passing round the canapés?